PDF Version DemoPRMIA PRM Certification - Exam IV: Case Studies; Standards: Governance, Best Practices and Ethics Sample Questions:
1. According to LTCM managers:
A) Stress Testing looked at the 12 biggest deals with each of their top 20 counterparties
B) Stress Testing was not conducted
C) Stress Testing was elaborate, complex and conducted on their entire portfolio. It included the assumptions of a major breakdown in historical correlations
D) Stress Testing was not necessary because their trades were hedged
2. Which of the following CANNOT be counted as a reason why LTCM was given a rescue package and not left to default?
A) Untimely unwinding of some LTCM positions would lead to large market fluctuations and possible turmoil
B) The consortium wanted to keep this out of the regulators' eyes
C) Some of the banks in the rescue consortium were LTCM investors
D) Many of the banks in the rescue consortium were among LTCM's counterparties
3. The problems in the Orange County case can best be characterized as failures related to:
A) Operational and Regulatory Compliance Risk
B) All of the Above
C) Market Risk
D) Credit Risk
4. Which of the following are PRMIA Governance Principles?
I Sufficiency of Key Resources and Process
II State of the Art Risk Management Technology
III Ongoing Education and Discernment
IV Sufficiency of Key Competencies
A) I, II and IV only
B) I and II only
C) I, III and IV only
D) All of these are PRMIA Governance Principles
5. Which of the following are PRMIA Governance Principles?
I Independence of Key Parties
II Disclosure and Transparency
III Internal Validation
IV Solvency
A) All are PRMIA Governance Principles
B) I, II and IV only
C) I and II only
D) I, II and III only
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: C |
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